Decision Notice – CIRO Sanctions Gary Edmond Perron and Cumberland Private Wealth Management Inc.

CALGARY, AB, April 28, 2025 /CNW/ – On March 21, 2025, a hearing panel of the Canadian Investment Regulatory Organization (CIRO) held a hearing pursuant to the Investment Dealer and Partially Consolidated Rules and the Dealer Member Rules and accepted a settlement agreement, with sanctions, between Enforcement Staff and the respondents, Gary Edmond Perron and Cumberland Private Wealth Management Inc. (CPWM).

As part of the settlement, Gary Perron admitted to having failed to disclose and seek pre-approval for activities related to the transfer of shares and control of an offshore corporation to himself, and CPMW admitted to having failed to adequately address red flags and questions regarding the transfer and continued to allow Gary Perron’s trading despite the red flags requiring further inquiry.

Pursuant to the settlement agreement, Gary Perron agreed to pay a fine of $200,000 and costs of $50,000, and CPWM agreed to pay a fine of $150,000.

The Settlement Agreement is available at:                                                                            

Perron, Gary and Cumberland Private Wealth Management – Settlement Agreement

The hearing panel’s decision will be made available at www.ciro.ca.

At the time of the contraventions, Gary Perron conducted business at CPWM from the Bahamas. Gary Edmond Perron continues to work as a Registered Representative with CPWM. CPWM is a CIRO-regulated Dealer Member based in Toronto, Ontario.

The Canadian Investment Regulatory Organization (CIRO) is the national self-regulatory organization that oversees all investment dealers, mutual fund dealers and trading activity on Canada’s debt and equity marketplaces. CIRO is committed to the protection of investors, providing efficient and consistent regulation, and building Canadians’ trust in financial regulation and the people managing their investments. For more information, visit www.ciro.ca.

All information about disciplinary proceedings relating to current and former member firms and individual registrants under the Investment Dealer and Partially Consolidated Rules (for investment dealers), the Mutual Fund Dealer Rules (for mutual fund dealers) and the Universal Market Integrity Rules (UMIR) is available on CIRO’s website. 

Background information regarding the qualifications and disciplinary history, if any, of advisors currently employed by CIRO-regulated investment firms is available free of charge through the AdvisorReport service. Information on how to make dealer, advisor or marketplace-related complaints is available by calling 1-877-442-4322.

CIRO investigates possible misconduct by its member firms and individual registrants. It can bring disciplinary proceedings which may result in sanctions including fines, suspensions, permanent bars, expulsion from membership, or termination of rights and privileges for individuals and firms.

All other Inquiries: Complaints & Inquiries   
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SOURCE Canadian Investment Regulatory Organization (CIRO)

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